at long last, some kind soul got it right, segregated funds owners should come first
at long last, some kind soul got it right, segregated funds owners should come first....
even before any and all creditors, regardless of size....
segregated funds owners have no other security whatever to claim on, when entity such as pfg goes under....
segregated funds owners only lay claims to whatever is left in their trading account which is categorically and absolutely NOT a part of pfg's assets in any shape or form,
to be subject to any legal claim from any entity including any and all federal agencies with the only exception, the IRS and legitimate courts' orders and such, only.
there appears a small ray of hope now.... at the end of the long long tunnel ahead.... but....
IF AND ONLY IF.... WE TRADERS WOULD JOIN HANDS AND MOVE FORWARD TOGETHER AS STATED IN THE ARTICLE TO ADVOCATE OUR OWN CAUSE,
so no one, not even the court could give away our segregated funds fraudulently used by many brokers to secure their own credit lines for whatever purposes,
as cited in the court case, in the same article.
it scares me to death to see, hear and read that our own court would justify brokers' creditors to lay hands on our segregated funds....
at the moment, any trust worthy "brokers" around who would not pledge our segregated funds for their own usage.... anyone pls? and thx
here is the link to the proposed article just arrived some 30 minutes ago: enjoy;
CHICAGO (Reuters) - An Iowa grand jury is expected to hear testimony from Peregrine Financial Group's president next week as it begins considering alleged wrongdoing at the failed futures brokerage.
Russell Wasendorf Jr., Peregrine's president and the son of the brokerage's accused chief executive, has been subpoenaed by the grand jury and will likely testify next week, his lawyer told Reuters.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
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